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There are several forms of business you can set up for a company. Each type of business has its pros and cons and preferences may vary depending on what kind of business you are attempting to start. One of the most common forms of business, particularly small businesses, is the sole proprietorship. "Sole proprietorship" basically means that one person is the sole owner of the company, where the liability for the company rests on this person alone for any and all debts incurred by the business. This means that if any hardships and debt fall on the company, creditors have the right to go after personal assets as well. Setting up a sole proprietorship in Canada is very similar to doing so in the United States. Follow these instructions if you are trying to set up a sole proprietorship in the country of Canada.

Steps

Method1

Registering Your Sole Proprietorship With the Canadian Government

1

Find out which government office is the appropriate office to contact for setting up your sole proprietorship.

The government office may vary depending on which province you are registering your business with. For example, if you are registering in Nova Scotia, the appropriate government office to contact is the registry of Joint Stock Companies.

2

Make sure the name of the business you are choosing is not already being used, searching the registry in the province you are setting the sole proprietorship up in.

3

Submit an Application for Name Reservation with the appropriate office once you know if your company name has not been registered.

The fee for the application may vary depending on the province you are registering in. For example, the fee for the application in Nova Scotia is $57.50.

Once your business name has been approved, you will receive in the mail a Certificate of Registration, which will include a Business Number (BN) that is assigned to you by the Canada Customs and Revenue Agency.

References

Article Info

wikiHow is a “wiki,” similar to Wikipedia, which means that many of our articles are co-written by multiple authors. To create this article, volunteer authors worked to edit and improve it over time. This article has also been viewed 5,667 times.